Wednesday’s extensive rule establishes the start-to-finish process for regulated firms and foreign companies to issue stablecoins in the U.S. and for how firms will keep custody of them. But the rule is also meant to operate alongside a number of similar rules still being worked on by other agencies, and this effort leaves aside the Bank Secrecy Act components that will be handled by other arms of the Treasury.
“The OCC’s final rule carries that landmark legislation forward, providing a clear, practical foundation for private-sector innovation, competition, and American leadership in digital assets,” said Secretary of the Treasury Scott Bessent in a statement.
But the questions of yield have long swirled at the center of stablecoin regulation.
Yield saga
A number of financial firms, such as U.S. exchange Coinbase, have well-established rewards programs — akin to the customer incentives associated with credit card providers. Some…
